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Here are our thoughts and recommendations on the what we think are the best business credit card available today. Given the credit crisis, we have also taken into account credit cards which you are more likely to be approved as well. But the following cards below represent what we think are the best cards available today depending on your needs.
Best Business Rewards
The Capital OneŽ Business Platinum with Preferred No Hassle Miles(SM) is catered to the business owner with excellent or above average credit. With this card, you can earn triple miles for every dollar that you spend on a particular category. These categories include : 1) Travel and Lodging 2) Gas and Service Stations 3) Building Supplies and Hardware 4) Computers and Electronics 5) Office Supplies and Furniture 6) Advertising and Shipping. Cardholders also get a 12 month 0% APR on purchases.
Best For Earning Points
The Capital OneŽ Business Platinum with Double No Hassle Miles(SM) is a business credit card that will appeal to those who want to earn double miles on their card spending. You will earn double miles for every dollar you spend on the card. The miles can be redeemed for travel, cash rebates and merchandizes. The annual fee is $39, which is a small fee to pay to be able to earn double miles. In fact, this is the only business credit card that lets you earn double miles on ALL spending. You can also earn unlimited miles which do not expire
Best For Earning Cash Rebates
At present the best business cash back credit card in today's market is the TrueEarnings® Business Card from Costco and American Express. It pays you 5% rebates at ANY gasoline stations, 3% on restaurants and 2% rebates on travel items. There is also no annual fee. The only catch is that you have to be a Costco member. But if there is a Costco near you, what are you waiting for? This is the only card in the market today that lets you earn 5% on gasoline without any tiers or caps on the rebates you can earn.
Best For Frequent Flyers
The Starwood Preferred Guest® Business Credit Card from American Express is probably the best card for frequent travelers. This is because the Starwood Preferred Guest Program allows you to transfer Starwood points on a one-for-one ratio into air miles. Furthermore, they will give you 5,000 bonus miles if you transfer 20,000 points into miles. Hence, you need only 20,000 points to get 25,000 miles (enough for a domestic airline ticket). The $45 annual fee makes this a relatively bargain among reward cards.
Best For Carrying A Balance
If you carry a balance (or intend to) on your business card, then the card that you should get is the Advanta Platinum 90-Day Interest Free BusinessCard. This is a very unique credit card because you are charged no interest on any purchase for the first 90 days (ie like having a grace period of 90 days). As long as you are disciplined in paying off your purchase balance within 90 days, you will end up saving a lot on interest payments (you still have to pay the minimum payment). There is no annual fee and there is even a reward program.
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